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Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally

  • Post published:February 25, 2023

Bitcoin’s recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market. While prices increased, data suggests that many interested buyers (including whales) were left on the sidelines. On-chain and market indicators relative to the 2019 rally are sending mixed signals on whether or not Bitcoin’s rally will continue.

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